It's no secret that the hospitality industry continues to flounder as we head into 2002. PricewaterhouseCoopers' (www.pwcglobal.com) forecast as of the end of November points out the significant losses hotels will be looking to recoup in 2002: 15 percent declines in revenue per available room for the fourth quarter of 2001, the worst reported in 34 years. According to the MPI Foundation, meeting cancellations cost more than $1 billion in
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